Memphis Homes under $400,000

Memphis Homes under $400,000

Welcome to Memphis, Tennessee, a vibrant city steeped in rich history and culture, nestled in the heart of Shelby County. Known as the birthplace of blues music and home to legendary sites like Beale Street and Graceland, Memphis offers a unique blend of Southern charm and urban sophistication. With its warm hospitality, delicious barbecue, and a thriving arts scene, this city is not just a place to live; it’s a lifestyle.

For those seeking a home in this dynamic city, you'll be pleased to discover a variety of properties available for under $400,000. Whether you're a first-time homebuyer, a growing family, or looking to downsize, Memphis has something for everyone. From charming bungalows in historic neighborhoods like Cooper-Young to modern townhomes in the bustling Downtown area, you’ll find an array of options that fit your budget and lifestyle.

The real estate market in Memphis is as diverse as its culture. With spacious yards perfect for outdoor gatherings, cozy interiors with character, and proximity to local amenities, homes in this price range offer incredible value. Families will appreciate the quality schools, parks, and community events that foster a sense of belonging, while professionals will enjoy easy access to major employers and entertainment options.

Explore the opportunity to make Memphis your home, where you can immerse yourself in a city that celebrates music, culture, and community. With homes under $400,000, your dream of living in this iconic city is within reach. Come discover what makes Memphis a truly special place to call home!

Newest Memphis Homes under $400,000

5191 Orangewood Rd, Memphis
$49,900
3 Beds ⋅ 2.1 Baths ⋅ 10232100 MLS
Calling all investors! This two-story fire-damaged property offers 4 bedrooms, 2.5 bathrooms, approximately 1,802 square feet of living space, and plenty of potential for renovation. The home features a fireplace in the den, formal dining area, and an attached 2-car garage. Outside, you'll find a deck, patio, and wood-fenced backyard. Bring your vision and explore the possibilities this property has to offer. Schedule your showing today! One or more photos may have been virtually staged.

5191 Orangewood Rd, Memphis

Listing courtesy of Mainstay Brokerage, LLC.

899 N Watkins St, Memphis
$250,000
4 Beds ⋅ 2 Baths ⋅ 10232098 MLS
Classic Midtown charm meets thoughtful updates in this inviting 4-bedroom, 2-bath bungalow! A spacious covered front porch welcomes you inside, where beautiful hardwood floors, original architectural details, and a decorative fireplace add character throughout. The living room opens to a generous dining room, while the updated kitchen features granite countertops, white cabinetry, subway tile backsplash, and stainless steel appliances. Both bathrooms have been tastefully updated, and the downstairs primary bedroom offers convenience. Flexible upstairs space provides options for a fourth bedroom, home office, or bonus room. Outside, enjoy a fenced backyard and deck for relaxing or entertaining. Extensive renovations include updates to the roof, plumbing, electrical, and mechanical systems. All the character of a classic Midtown home with the comfort of modern improvements!

899 N Watkins St, Memphis

Listing courtesy of Coldwell Banker Collins-Maury.

5791 Hickory Commons Dr, Memphis
$169,900
3 Beds ⋅ 2 Baths ⋅ 10232096 MLS
Charming, well maintained move in ready home! 3 Bedrooms & 2 Bathrooms, newer wood floors, newer AC unit, garage, etc..... Hurry and schedule your showing before it's gone! The handicap ramp can be removed!

5791 Hickory Commons Dr, Memphis

Listing courtesy of Keller Williams.

914 Crockett St, Memphis
$85,000
3 Beds ⋅ 2 Baths ⋅ 10232095 MLS
Fantastic opportunity in 38107! Completely renovated and ready for its next chapter! Whether you are looking for a profitable addition to your investment portfolio or a place to call home, this property delivers incredible potential. This spacious 3-bedroom, 2-bathroom home features a large kitchen perfect for cooking and entertaining, along with a generously sized backyard offering endless outdoor possibilities. As an added bonus, the seller will install a brand-new AC condenser prior to closing, ensuring peace of mind and comfort from day one. Don't miss out on this versatile Memphis property—schedule your showing today!

914 Crockett St, Memphis

Listing courtesy of Groome & Co..

3915 Philwood Ave, Memphis
$295,000
3 Beds ⋅ 1.1 Baths ⋅ 10232094 MLS
Charming High Point Terrace home with fantastic curb appeal! This 3-bedroom, 1.5-bath home offers a spacious, versatile floor plan with plenty of room for a home office. You’ll love the large great room addition featuring a cozy fireplace & beautiful views of the backyard & deck, perfect for entertaining or relaxing with family & friends. The fenced backyard offers privacy & room to enjoy the outdoors, while a generous storage shed & covered parking add convenience. Best of all, you’re just minutes from all the neighborhood favorites that make High Point Terrace so special! Enjoy High Point Grocery, High Point Pizza & the Greenline, along with the charm & character of this beloved Memphis neighborhood. A wonderful opportunity to enjoy comfortable living in a location you’ll love!

3915 Philwood Ave, Memphis

Listing courtesy of eXp Realty.

1041 Alice Ave, Memphis
$200,000
4 Beds ⋅ 2 Baths ⋅ 10232093 MLS
This home has been completely taken down to the studs and rebuilt. Everything is brand new from the ground up including all of the plumbing, electrical, HVAC, air ducts, water heater, windows, exterior siding, roof, flooring, interior walls, doors, lighting, kitchen, bathrooms, and everything else. There are 3 bedrooms downstairs with a spacious full bathroom. The upstairs has a private primary bedroom with en-suite bathroom and walk in closet and a separate bonus room. There is a large backyard and an outdoor fireplace on the back patio. Located close to interstate access. This home is fully move in ready giving its next owner no maintenance for many years to come! All measurements are approximate and should be verified by buyer.

1041 Alice Ave, Memphis

Listing courtesy of eXp Realty, LLC.

1536 Cella St, Memphis
$155,000
4 Beds ⋅ 2 Baths ⋅ 10232092 MLS
Fully rehabbed in 2023, featuring renovated bathrooms, an updated kitchen with built-in cabinets, & washer/dryer hookups. Newer HVAC & furnace installed in October 2024, along with energy-efficient doors & windows throughout. Professionally managed, with the tenant responsible for lawn care & all utilities. Low property taxes. Also, could be a great investment opportunity!

1536 Cella St, Memphis

Listing courtesy of Keller Williams.

2968 Brandale St, Memphis
$114,900
3 Beds ⋅ 2 Baths ⋅ 10232087 MLS
Welcome to this 1-story brick home offering 3 bedrooms, 2 full bathrooms, and 1,334 square feet of living space. The 6-room floor plan provides comfortable living areas with plenty of opportunity to add your own personal touches. An attached carport provides convenient covered parking, and the property is being sold as-is. With a functional layout and plenty of potential, this home is ready for its next chapter. Schedule your showing today!

2968 Brandale St, Memphis

Listing courtesy of Mainstay Brokerage, LLC.

3750 Argonne St, Memphis
$75,000
3 Beds ⋅ 1.1 Baths ⋅ 10232086 MLS
3 bed, 1 bath home that is tenant occupied. Home was previously occupied. No showings without a sign contract.

3750 Argonne St, Memphis

Listing courtesy of Harris & Harris Realty Group,.

2274 Jackson Ave, Memphis
$130,000
2 Beds ⋅ 1 Baths ⋅ 10232083 MLS
Wonderful Home for Sale 2 Bedrooms, 1 Bathroom. This home features 2 spacious bedrooms and 1 bathroom. Recent upgrades include a remodeled roof, creating a warm and inviting atmosphere, plumbing, Additionally, the property offers a completely fenced garden.located in the historic Hein Park / Midtown area, you will find a variety of highly accessible local amenities.

2274 Jackson Ave, Memphis

Listing courtesy of Keller Williams.

3396 Castleman St, Memphis
$124,900
3 Beds ⋅ 1.1 Baths ⋅ 10232081 MLS
Calling all investors! This 1-story brick veneer home offers 3 bedrooms, 1.5 bathrooms, and approximately 1,393 sq ft of living space. The functional six-room floor plan provides plenty of opportunity to renovate, update, and add your own finishing touches. With single-level living and solid potential for an investment or renovation project, this property is ready for its next chapter. Property is being sold as-is. Schedule your showing today!

3396 Castleman St, Memphis

Listing courtesy of Mainstay Brokerage, LLC.

166 Parkdale Dr, Memphis
$85,000
4 Beds ⋅ 2 Baths ⋅ 10232080 MLS
No showing before accepted contract.

166 Parkdale Dr, Memphis

Listing courtesy of Harris & Harris Realty Group,.

Start Your Search

Some or all of the listings displayed may not belong to the firm whose website is being visited

© 2026 Georgia MLS. All rights reserved. Information Deemed Reliable But Not Guaranteed.